Code of Maryland Regulations
Title 31 - MARYLAND INSURANCE ADMINISTRATION
Subtitle 15 - UNFAIR TRADE PRACTICES
Chapter 31.15.08 - Payment of Claims Under Life and Health Policies Annuity Contracts
Section 31.15.08.07 - Penalties
Universal Citation: MD Code Reg 31.15.08.07
Current through Register Vol. 51, No. 19, September 20, 2024
A. For each violation of Regulation .03A of this chapter, the Commissioner may impose a penalty of up to $500.
B. For each violation of Regulation .03B of this chapter, the Commissioner may impose a penalty, or require restitution, as provided in Insurance Article, § 1-301, 4-113, 4-114, or 27-103, Annotated Code of Maryland, as may be appropriate under the circumstances.
C. The penalties prescribed in these regulations are not exclusive, and are in addition to any other powers afforded the Commissioner under Insurance Article, Annotated Code of Maryland.
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